Kings landing condos concordcondos . About 45% of the area is still a buyer’s market. The average price of independent homes in more than half of the Greater Toronto area rebounded in the first half of this year.Please Visit: Kings landing condos concordcondos to Get Your VVIP Registration Today!
Statistics from real estate agent Re/Max found that E01 districts, which belong to North Riverdale, South Riverdale, Blake-Jones and Greenwood-Coxwell in Toronto, had the strongest rise of 15.2%, with an average house price of 1378987 yuan, up more than 180000 yuan from last year. District C01, including Chinatown in Central, ranked second with an increase of 12.8%.
According to Re/Max Ontario and Atlantic analysis of independent houses in 65 districts of the Toronto Real Estate Bureau (TREB) in the first six months of this year, sales in nearly 88 per cent of the districts increased, and the average home price in 51 per cent of the districts rose compared with the same period last year.
The 905 area on the periphery of the multi-city area was the most active, with an increase in trading volume in all 30 regions and a simultaneous increase in volume and price in 43% of the areas. Sales increased in only 20 of Toronto’s 35 districts, and the average price of detached houses in 57% of the districts increased.
Christopher Alexander, executive vice president of Re/Max, said the market for detached houses was finally back on track, with turnover up almost 18 per cent in the first half compared with the same period last year, reflecting a return to normal levels in the property market. The market share of detached houses has also begun to climb, from 43.1% last year to 45.7% now.
Re/Max pointed out that affordability was the main reason for the increase in sales of independent homes, with first-time home buyers and buyers of small homes for large houses entering the market before prices rebounded. Because of the good location, the E01 district in the east of the city increased by 15.2%, and the average house price rose to 1378987 yuan from 1197133 yuan last year.
The average housing prices of Trinity-Bellwoods, Palmerston-Little Italy, Little Portugal, Dufferin Grove, Kensington-Chinatown and Niagara in C01 increased from $1732193 to over $220000 to $1953511.
The third place was Leaside and Thorncliffe Park in C11 District, with an increase of 11.2%. The average price of a detached house was 2193747 yuan.
In addition, the E04 area of Dorset Park, Wexford-Maryvale, Ionview, Clairlea-Birchmount and Kennedy Park, and the W02 area of Junction Area, High Park North, Runnymede- Bloor West Village, ambton-Baby Point and Dovercourt-Wallace Emerson-Junction are all sellers’ markets, so there is a bidding situation of grabbing Offer. The sales-to-release ratios of C01 and E01 are 62.5% and 88.8%, respectively.
Despite strong demand from individual regions, about 45% of Toronto is still a buyer’s market, the report said. For example, the average price of a house south of Bull Street is over 2 million yuan, while the detached house north of Bull Street has more room for bargaining.
In addition, there are still over 1 million self-contained housing estates in area C03 of Oakwood-Vaughan and area C10 of Sherwood Park, Mount Pleasant West and Mount Pleasant East.
The report points out that in E05 districts of L’Amoreaux, Tam O’Shanter-Sullivan and Steeles in Scarlett District, and E07 districts of Milliken, Agincourt North, Agincourt South and Malvern West, the average price of detached houses is less than 1 million yuan, so the transaction volume is the most prosperous, increasing by 76.2% and 57.1% respectively.
The average price of a detached house in Richmond Mountain is 1380253 yuan, and the turnover has also increased by 36.1%, ranking sixth in sales. Alexander said the northern end of the greater Toronto area is still recovering and buyers for the first time can find better homes in York at the same price.
Wu Shusheng, vice president of the Ontario Chinese Real Estate Professional Association, points out that the Scarborough area is the first choice for many new immigrants, and many people will move northward after settling down for a period of time.
Most of the houses in Scarborough are semi-brick buildings with a smaller area and older houses. Therefore, many buyers who want to live in large new houses are willing to move to areas farther away from York, and the prices of the two houses are not much different. The average house price south of Highway 401 has always been low, although it has risen a lot, but it is still relatively cheap. The area is dominated by independent bungalows, and many people choose to build or demolish them for redevelopment after buying a house, so the market also has considerable affordability.